Franklin Resources Inc. Sells 296 Shares of Jackson Financial Inc. (NYSE:JXN)

Franklin Resources Inc. lowered its stake in Jackson Financial Inc. (NYSE:JXN) by 0.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 97,665 shares of the company’s stock after selling 296 shares during the quarter. Franklin Resources Inc.’s holdings in Jackson Financial were worth $9,720,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in Jackson Financial by 9,363.9% in the 3rd quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock worth $85,942,000 after acquiring an additional 932,085 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Jackson Financial by 146.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after purchasing an additional 724,148 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Jackson Financial during the 3rd quarter valued at $40,795,000. LSV Asset Management lifted its stake in shares of Jackson Financial by 2,459.7% during the 2nd quarter. LSV Asset Management now owns 439,339 shares of the company’s stock valued at $32,625,000 after buying an additional 422,175 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Jackson Financial by 40.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock worth $95,874,000 after buying an additional 300,520 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on JXN shares. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Barclays lifted their price target on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $84.00.

Insider Activity

In related news, Director Gregory T. Durant acquired 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the acquisition, the director now directly owns 32,023 shares of the company’s stock, valued at $2,891,036.44. This represents a 4.91 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Jackson Financial Price Performance

JXN stock opened at $88.28 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a 12 month low of $47.49 and a 12 month high of $115.22. The stock has a market cap of $6.52 billion, a PE ratio of -6.98 and a beta of 1.42. The company has a 50-day moving average price of $99.17 and a 200 day moving average price of $88.31.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company posted $3.80 earnings per share. Equities research analysts anticipate that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. Jackson Financial’s dividend payout ratio (DPR) is -22.15%.

Jackson Financial Company Profile

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.